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The vast majority of his tax avoidance would be done on the Reluctant Joe Biden 9 Still Sleepy Shirt business returns, as would, if it were occurring, probably all tax evasion. Most Trump companies are privately held and the vast majority. I imagine, are formed as partnerships and S-corporations which provide some specific tax. Advantages to a business owner that I can’t get into in great detail here. Each of these companies should issue, on an annual basis, a form K-1 to all people and entities that own a percentage of them. The K-1 reports several different types of income or loss. In a decade and a half while supposedly.
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Owning and operating multiple enormous, profitable businesses? For people that own a lot of Reluctant Joe Biden 9 Still Sleepy Shirt businesses, as Trump does, it can get complicated rather quickly. The complexity of the tax code is a feature, and not a bug. Ways for business owners to report the smallest amount of income and therefore pay the least amount in tax possible. Very wealthy people and corporations can have years in which they pay no income. Tax without being guilty of fraud. It’s possible. I don’t have enough information here to say for certain that Trump’s returns are fraudulent. I wouldn’t stake my status as a professional on such claims, in any case.
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